1. The bulls did gather some courage and finally got Nifty over the 5700 hurdle but it remains to be seen if they have a lot of ammunition to counter the bears operating from levels like 5745-5770-5815 (Nifty Futures). The options table though didn't see any big change expect the fact that a good chunk of 5600PEs, along with some 5700 & 5800PEs got covered. The range suggested by options is still 5600-5800, although 5800/5900 as of now can be considered weak resistances because not many are writing calls at 5800 or 5900.
2. 5800 is a weak resistance
3. 5700 is the 50-50 level. The direction for this market depends on the 5700CE writers who added 35L in the last few days!
4. 5600 is the support - despite 11L 5600PEs covering it looks safe for now.
5. PCR is 0.89 now. Its truly amazing that we have seen extreme PCR readings of 0.89 and 2.0+ in just a matter of 4 months!!
Nifty Futures:
2.15Cr OI down 5% (11.5L shares cut) - 14.5L shares were added on Friday's massacre and 11.5 of that gone today!
Banknifty Futures:
12.3L OI down 4% -- BN OI now has gone below what it was on the first day of this series. Shorts have completely booked out. Now it remains to be seen if longs would come in and take the index up.
Balanced profiles:
Inspired by Shai's post on Balanced profiles yesterday and today, here's my contribution through pictures - no explanations needed.
Which stocks have these balanced or almost balanced profiles? ICICIBANK, RELIANCE and LT
And what's the importance of these stocks? These three along with INFOSYSTCH & HDFC make up almost 40% of Nifty!
4 comments:
Dear Girish,
Kindly Verify with the Values in the Open Interest Table.
With regards
Sathya
Sathya,
I just double checked and they seem to be correct. These values are taken directly from NSE Bhavcopy which comes out in the evening after 5:30 or 6pm.
The NSE Option Chain (http://www.nseindia.com/marketinfo/fo/optionKeys.jsp?symbol=NIFTY&instrument=-&date=-) which everyone uses for checking intraday OI may not have the most updated numbers because settlement is done at @EOD
Hope that clears the confusion.
Dear Girish,
Thanks for the clarification. Yes, i checked with the option chain link and the BhavCopy.
Sathya
Thanks Girish!
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